Revlon, Inc. (NYSE:REV) unveiled today a new organization
structure designed to enable the company to meet its long-term
growth aspirations and more effectively compete in the dynamic and
rapidly growing, global beauty industry. With the successful
acquisition of Elizabeth Arden in September 2016, the $3 billion
combined beauty company has a diverse portfolio of iconic brands
with product offerings in color cosmetics, skincare, fragrance,
hair color and hair care, beauty tools, men’s grooming products,
anti-perspirant deodorants and other beauty care products, sold in
approximately 150 countries through a variety of distribution
channels.
The Company will organize to a new brand-centric structure,
built around four global brand teams, Revlon, Elizabeth Arden,
Fragrances and Portfolio Brands, designed to optimize and focus on
building brand equity and delighting and winning with beauty
consumers.
To ensure that the organization also benefits from its broad
commercial expertise and continues to develop strategic customer
relationships, a new customer-facing regional structure will
optimize global sales and brand presence behind five regions in
North America; Europe, Middle East & Africa; Asia; Latin
America, which includes Mexico; and Pacific, which includes
Australia and New Zealand.
In order to better support the new brand-centric and regional
structures, the enabling functions, including Finance, Human
Resources, Supply Chain, Research & Development, Legal, and
Communications & Corporate Social Responsibility, will also
reorganize their departments.
“This new brand-centric structure enables us to leverage the
strength of our iconic brands, better focus on and serve beauty
consumers, and quickly adapt to their changing behaviors and
preferences,” said Mr. Fabian Garcia, President & CEO of
Revlon. “Aligned with our strategy, the new brand-centric structure
better positions us to grow and win across categories, channels and
geographies by delivering consistent, seamless and exceptional
brand experiences, wherever and however our consumers shop for
beauty,” he added.
The new organization design enables the Company to continue to
build on its strategy for growth, streamlines and simplifies the
ways of working and assembles an experienced, passionate and
talented leadership team that will help realize the combined
organization’s vision and growth ambitions.
About Revlon, Inc.
Revlon has developed a long-standing reputation as a color
authority and beauty trendsetter in the world of color cosmetics
and hair care. Since its breakthrough launch of the first opaque
nail enamel in 1932, Revlon has provided consumers with
high quality product innovation, performance and sophisticated
glamour. In 2016, Revlon acquired the iconic Elizabeth
Arden® portfolio of brands, including its leading designer,
heritage and celebrity fragrances. Today, the Revlon Beauty’s
Group’s diversified portfolio of brands is sold in approximately
150 countries around the world in most retail distribution
channels, including mass, salon and prestige. Revlon ranks among
the top 20 global beauty companies, with product offerings in color
cosmetics, skincare, hair color and care, beauty tools, men’s
grooming products, anti-perspirant deodorants and other beauty care
products fragrances under brands such as Revlon, Elizabeth
Arden, Revlon ColorSilk, Revlon Professional, American Crew, Almay,
Mitchum, Cutex, Elizabeth Taylor, Britney Spears, Juicy
Couture, Curve, John Varvatos and Christina
Aguilera. Please visit http://www.revlon.com for the
latest news and information about Revlon and its brands.
Forward-Looking
Statements
Statements made in this press release, which are not historical
facts, are forward-looking and are provided pursuant to the safe
harbor provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements speak only as of the date they
are made and the Company undertakes no obligation to publicly
update any forward-looking statement, whether to reflect actual
results of operations; changes in financial condition; changes in
general U.S. or international economic or industry conditions
and/or conditions in the Company’s reportable segments; changes in
estimates, expectations or assumptions; and/or other circumstances,
conditions, developments and/or events arising after the issuance
of this press release, except for the Company's ongoing obligations
under the U.S. federal securities laws. Forward-looking statements
are subject to known and unknown risks and uncertainties and are
based on preliminary or potentially inaccurate estimates and
assumptions that could cause actual results to differ materially
from those expected or implied by the forward-looking statements in
this press release. Such forward-looking statements include, among
other things, the Company’s belief and expectations that: (i) its
new organization structure is designed to enable the company to
meet its long-term growth aspirations and more effectively compete
in the dynamic and rapidly growing, global beauty industry; (ii)
its new brand-centric structure is designed to optimize and focus
on building brand equity and delighting and winning with beauty
consumers; (iii) its new customer-facing regional structure will
ensure that the organization also benefits from its broad
commercial expertise, continues to develop strategic customer
relationships and optimizes global sales and brand presence; (iv)
this new brand-centric structure will enable the Company to
leverage the strength of its iconic brands, better focus on and
serve beauty consumers, quickly adapt to their changing behaviors
and preferences and better position the Company to grow and win
across categories, channels and geographies by delivering
consistent, seamless and exceptional brand experiences, wherever
and however the Company’s consumers shop for beauty; and (v) the
new organization design will enable the Company to continue to
build on its strategy for growth, streamline and simplify the ways
of working and assembles an experienced, passionate and talented
leadership team that will help realize the combined organization’s
vision and growth ambitions. Actual results may differ materially
from such forward-looking statements for a number of reasons,
including as a result of the risks and other items described in
Revlon’s filings with the SEC, including, without limitation, in
Revlon’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q
and Current Reports on Form 8-K and any amendments thereto filed
with the SEC during 2017 and 2016 (which may be viewed on the SEC’s
website at http://www.sec.gov or on
Revlon, Inc.’s website at http://www.revloninc.com). Additional important
factors that could cause actual results to differ materially from
those indicated by the Company’s forward-looking statements include
risks and uncertainties relating to: (i) difficulties with, delays
in and/or the Company’s inability to achieve its long-term growth
aspirations, such as due to unanticipated circumstances or results
affecting the Company's financial performance, including decreased
consumer spending in response to weak economic conditions or
weakness in the consumption of beauty care products; adverse
changes in foreign currency exchange rates; decreased sales of the
Company's products as a result of increased competitive activities
by the Company's competitors and/or decreased performance by third
party suppliers; changes in consumer preferences, such as reduced
consumer demand for the Company's products or lower than expected
customer and/or consumer acceptance of the Company’s existing or
new products; lower than expected results from the Company’s
advertising, promotional, pricing and/or marketing plans; higher
than expected sales returns related to any reduction of space
and/or inventory management by the Company's customers; changes in
consumer purchasing habits, including with respect to retailer
preferences and/or among sales channels; and/or higher than
expected synergy and integration program costs and expenses related
to the Elizabeth Arden acquisition; (ii) difficulties with, delays
in and/or the Company’s inability to optimize and focus on building
brand equity and delighting and winning with beauty consumers,
including, without limitation, due to one or more the factors
referred to in clause (i) immediately above; (iii) difficulties
with, delays in and/or the Company’s inability to benefit from its
broad commercial expertise, continue to develop strategic customer
relationships and/or optimize global sales and brand presence,
including, without limitation, due to one or more the factors
referred to in clause (i) immediately above; (iv) difficulties
with, delays in and/or the Company’s inability to leverage the
strength of its iconic brands, serve its beauty consumers, quickly
adapt to their changing behaviors and preferences, grow and win
across categories, channels and geographies and/or deliver
consistent, seamless and exceptional brand experiences, wherever
and however the Company’s consumers shop for beauty, including,
without limitation, due to one or more the factors referred to in
clause (i) immediately above; and/or (v) difficulties with, delays
in and/or the Company’s inability to continue to build on its
strategy for growth, streamline and simplify the ways of working
and/or assemble an experienced, passionate and talented leadership
team that will help realize the combined organization’s vision and
growth ambitions, including, without limitation, due to one or more
the factors referred to in clause (i) immediately above. Factors
other than those referred to above could also cause Revlon’s
results to differ materially from expected results. Additionally,
the business and financial materials and any other statement or
disclosure on, or made available through, Revlon’s website or other
websites referenced herein shall not be incorporated by reference
into this press release.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170117005097/en/
RevlonInvestor Relations:Siobhan Anderson,
212-527-5230orMedia Relations:Pamela Alabaster,
212-527-5863
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